PMO’s notes only a suggestion, NHAI will continue building roads: Nitin Gadkari
The National Highways Authority of India (NHAI) is fully capable of raising debt and continuing to meet its road construction targets, Nitin Gadkari, Union Minister for Road Transport and Highways, told Mint on Tuesday. He was referring to a recent note from the Prime Minister’s office suggesting that the NHAI re-evaluate its ability to put equity into road construction and turn into an asset management company instead.
“NHAI is a AAA rated organisation and we can raise enough debt to keep building roads,” Gadkari said. “What the PMO has said in its note are only suggestions. It’s not as big as the media is making it out to be. The NHAI has always been able to meet its fund-raising targets.”
He said that the NHAI is in talks with State Bank of India to raise up to ₹50,000 crore, referring to the authority’s plans to meet part of its ₹75,000 crore target for the fiscal year by securitising future toll revenue on its high-traffic roads.
